The ATO on Wed 23.1.2013, issued the following Class Rulings:
- CR 2013/5: Cape PLC conversion of employee share scheme interests from rights to options. It applies from 1 July 2012 to 30 June 2013. The Ruling states that no ESS deferred taxing point will occur for the purposes of s 83A-120 of the ITAA 1997 as a consequence of the conversion of an unvested performance right into an unvested option.
- CR 2013/6: Aquila Resources Limited Long Term Incentive Plan. It applies from 1 July 2012 to 30 June 2016. The Ruling states that no amount will be included in the participant’s assessable income in relation to a performance right issued until the ESS deferred taxing point for the performance right occurs.
[LTN 15, 23/1/13]